But the ascent track is not. Similar to the bitcoin movement, two fractals can be identified here. Currently, the second fractal is under construction. The analysis shows that each of its correction parameters follows. Therefore, we can assume that the rising wave structure will be similar to the previous fractal. Now I'm trading this.
The analysis seeks to find out what the potential wave structure of the current wave structure is. It can be seen that the correction wave structure (A, 2A) is the wave of the rising direction wave structure (B). From the wave law, the next wave may be the previous two. Because the previous correction wave is exactly half the current correction wave. As a result,...
The exchange rate can be used to build a second rising fractal. In this case, the primary target price is 366 usd. The percentage of rise (60%) is equal to the percentage of the previous fractal increase. In the event of a more pronounced rise, the second fractal target (secondary) may change to 120%. I will continue ....
Looking at the chart, we're now at a pretty strong supply zone for ETHUSD.
This might signal a rejection is in sight, aiming for the lower demand zone.
However one thing to note is that there's a "V" shape rejection showing bullishness of ETH
So if it plays out, we might see it break this strong supply zone and head up to the next supply zone.
At this point I...
Munch on them pips with us... everyone is hungry and there is plenty to go around.
Message us if you are interested, after all our trading style is simple and effective as you can see from our charts, we even teach our trading style.
Now we can see that price bounced off a good support and we are looking for the bulls to push price up to our resistance zone...
Prices have fallen below the 230 level support level,
The fall is likely to continue in the short term.
Near the support level consider going long again.
Feel free to contact me if you have any questions!
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------------------------- 2019.07.15 uk
The buy zone is shown by the green box.
If the stop loss is hit, then this count is invalid and there will likely be further downward movement.
The profit target is at $322.50 - This is where wave 5 is equal to 0.618 x (the length of wave 1) + (the end of wave 4).
Disclaimer: This material should not be the basis for making investment decisions, nor be construed...